Caught in the retirement vortex while trying to navigate college costs, emergency savings, and caring for older family members? We're here to help. Today, we're unpacking the findings of Goldman Sachs' recent retirement survey and Insights Report to provide insights on the financial challenges many Americans face as they approach retirement. We question if these challenges have worsened over time or if our mindset towards retirement has taken a darker turn. But don't fret, we'll also be sharing strategies on prioritizing your finances and assessing your retirement readiness.

Financial literacy can be your saving grace in turbulent times. Did you know 36% of people don't have three months of expenses saved for emergencies? We discuss the importance of having an emergency fund, the right places to stash your cash, and how to manage unexpected events that can shake your financial plans. We also explore the role of employers in retirement planning and emphasize the need for active personal involvement in financial planning. Join us as we navigate through these topics to help you plan for a stable and secure future.

What if you could shield your hard-earned assets from the costly implications of long-term care? What if you no longer had to worry about the dreaded five-year look back window while applying for Medicaid? That's exactly what we're unpacking in episode number 463. We use the real-life example of Mrs. O'Malley, an 82-year-old woman striving to protect her home, to demonstrate the advantages of transferring assets into an irrevocable trust. We emphasize the might of legal advice in this process and highlight the boons of an irrevocable trust, such as the ability to downsize without resetting the infamous five-year countdown.

We also take a deep dive into the varied types of long-term care services in New Jersey, their respective costs, and the potential fallout of transferring assets prematurely before applying for Medicaid. Discover the value of written care contracts with family members, the role of annuities in Medicaid computations, and the exceptions for transferring assets to a spouse or disabled child. This episode is brimming with practical advice and vital information for anyone considering their long-term care options in New Jersey. Buckle up and get ready to arm yourself with the knowledge you need to approach your future with confidence.

Ready to crack the code on some of the most perplexing questions in investing? We're about to take a deep-dive into the captivating world of stocks, Treasury bills, bond yields, and interest rates. Prepare to challenge the status quo as we probe whether it's worth risking money in stocks when Treasury bills yield 5%. We'll weigh the impact of inflation on this intriguing decision and stack up the historical returns of stocks against T-bills. Stay with us as we scrutinize the pros and cons of locking in good bond yields and making money when interest rates fall. We assess the pulse of the Federal Reserve, reminiscing their past rate increase while anticipating their future maneuvers. Our conversation wouldn't be complete without a candid chat on market timing and the potential risks it carries.

Transitioning into the current state of the market and economy, we explore the unpredictable nature of markets and debunk the anticipated recession predictions. We address your concerns about consumer debt and the impending election, assuring you that our economy is robust and resilient. Tune in as we furnish you with compelling statistics and historical data that will empower your discussions with family and friends during the holiday season. This episode is a blend of in-depth analysis, insightful discussion, and practical advice that will equip you for your investment journey. Let's demystify these complex topics together!

Ever feel overwhelmed by the gravity of tackling debt? What if we told you it doesn't have to be as daunting as it seems? Drawing from expert insights and our rich experiences at Malouli Asset Management, we offer a fresh perspective on how to manage and reduce debt without resorting to drastic measures. We reference an enlightening Bloomberg article by Carl Smith, which makes the case for leveraging economic growth to keep debt under control, and we also share tactics to help individuals regain control of their finances.

We then traverse back to the post-World War II era, a time when the US successfully reduced its debt-to-GDP ratio from an astounding 120% to a more manageable 73% primarily through flourishing economic growth, not austerity measures. Could we adopt a similar approach in our current climate? We explore this question and its potential implications. On a personal level, we recognize that eliminating debt is a significant hurdle, hence we break it down into manageable steps and offer practical advice on budgeting, avoiding lifestyle inflation, and maintaining a sustainable standard of living en route to financial freedom. We hope this discussion will empower you to face your financial challenges head on and find a path towards financial stability.

What might you not know about profit margins, earnings, and the economic sentiment that you absolutely should? Get ready for a profound discussion as we break down Ryan Dietrich's intriguing article, 10 Things You Might Not Know, But Should. We unravel the mystery behind rising profit margins, putting a spotlight on the shifting focus of tech behemoths from income growth to profitability. Delve into the world of earnings and the crafty play of managing expectations to boost future earnings beats. Fascinated by Meta and Facebook's stock growth despite a few earnings misses? Stick around as we unfold the impact of these earnings reports.

Ever wondered why sentiment surveys of manufacturing might not be painting the accurate picture? Join us as we dig deeper into this conundrum, contrasting strong economic indicators with the public perception of an impending doom. As we dissect the third quarter of 2023 and the latest GDP report, we expose the manipulation in media narratives aimed at clickbait. Don't miss out as we demystify the average drawdown of recessions and why panic can massively inflate it. Finally, we round off with a worthwhile lesson about the natural ups and downs of the business cycle, preaching preparedness over panic. After all, stocks can dip lower but they can also rise higher!

What would you do if you discovered that an investment option you've been considering has its pitfalls, and the full implications may not be entirely clear to you? Well, buckle up as my brother Tim and I navigate the intricate landscape of annuities. We're scrutinizing and debunking common misconceptions, like the widespread belief that annuitizing the contract doesn't involve giving up the asset. We're also shedding light on surrender periods, the fees associated with annuitizing the contract, and the harsh reality of market shifts. 

Ever wondered about the costs of surrendering a contract? Curious about how brokers' incentive structures work? We've got you covered. We're diving into the nitty-gritty of surrender costs and exploring the mechanisms of broker compensation. But there's more: we're also unveiling the often-obscured tax ramifications of withdrawing funds from an annuity. We're comparing ordinary income tax rates on annuity distributions to long term capital gains tax rates - a comparison that could dramatically affect your perspective on investing in annuities. To top it all off, we're posing a provocative question: is it really a wise decision to put a tax-deferred investment into a tax-deferred account? With this episode, you're guaranteed to gain a deeper understanding of annuities, and navigate their potential pitfalls with confidence.

Ready for a deep-dive into the complex world of social security benefits and retirement planning? Brace yourselves as Brendan and Casey unravel the nuances of social security, Medicare and more. 

We'll be discussing the cost of living adjustment (COLA) - a critical aspect designed to keep up with inflation, and we’ll be comparing the 2024 COLA set at 3.2% with the average COLA of 2.3%. We'll also explore how recent inflationary spikes have prompted individuals to rethink their retirement strategies – a silver lining, perhaps, in these challenging times.

The discussion doesn't end with the COLA update; the guys dive into the trends of people claiming social security benefits early. Curious about how these patterns have evolved? Stick around as we explore how factors like life expectancy, better education about waiting for benefits, and earnings limit influence these decisions. 

We'll also illustrate the link between claiming social security benefits and enrolling in Medicare Part A and navigate the tricky waters of healthcare expenses in retirement planning. 

In addition, we’ll share some golden nuggets on maintaining a low taxable income, with essential tips on diversifying your savings streams and the strategic use of 401k and brokerage accounts. So come join us for this comprehensive guide on maximizing your social security benefits.

 Should you claim Social Security early to maximize the amount of time you receive benefits? Or should you delay taking it for as long as possible to maximize the amount of money you receive each month? 

Join us, as Tom, Tim and Casey dissect the critical variables surrounding Social Security decisions. From exploring the optimal claiming age to balancing the retirement equation, they break down the myriad of elements influencing these pivotal financial milestones.

The guys don't shy away from the gritty numbers and what they might mean for you. With a hypothetical individual living to a 100 as a case study, we illuminate the stark difference that claiming at age 62 versus 70 can make. But is the payoff worth the wait? They dissect that too, alongside other strategies for claiming and tax implications to watch out for. Remember, knowing your goals and beliefs is instrumental in navigating your financial journey. So, strap in, and let’s embark on this enlightening expedition together.

Deciding between a lump sum or monthly check can be a daunting task. Wondering how you should go about it? You're not alone; this episode dives into the heart of that problem. We tackle fascinating topics such as the ongoing trend of private sector employers closing their pension plans, and the implications of choosing a lump sum payout versus a guaranteed monthly income. We stress the importance of recognizing when you'll need the money, and explore the fascinating exercise of calculating the cost of buying an income stream at retirement age.

In the second half of the discussion, we delve deeper into the pros and cons of each decision. We talk about the significant role your liquid net worth plays and the trade-offs of potentially more taxable income in the future. We also consider the option of taking the lump sum and reinvesting it in the market. After all, every retirement plan is unique and requires a tailor-made approach. By the end of this episode, you'll be equipped with the knowledge to make a well-informed decision regarding your retirement.